Over the past two years, we have seen successive crises hit the California real estate market…

• Massive numbers of sub-prime loans in default, leading to waves of foreclosures in the residential market;
• Near-collapse of the financial system due to its reliance on collateral consisting of securitized packages of residential and commercial loans;
• Crisis in the commercial sector due to tight credit markets, plummeting valuations, changing underwriting standards and a massive loss of equity, with huge numbers of commercial loans maturing and coming due.

No one has an answer to all these problems—or knows what the future will hold—but this new CEB program will try to give you a picture of where we are now and why, and what you can do to help your real property clients weather these troubled economic times.

Some real estate law practice experience would be helpful.

PROGRAM HIGHLIGHTS

• Unmuddying the waters: where are we now?
  • Examination of the credit markets
  • The looming tower of maturity defaults
  • CMBS problems—what's a special servicer to do?
  • The search for new equity—where will it come from?
  • TALF & PPIP—are the government programs working or helping?
• Searching for solutions
  • The need for valuation certainty
  • Re-financing and loan workout considerations
  • The attorney's role in restructurings and ethical considerations
  • Receiverships—the hows and whys
  • Foreclosure and bankruptcy considerations and strategies
• Taking advantage of opportunities
  • Purchasing opportunities—targeting and structuring deals
  • Restructuring troubled projects
  • Leasing considerations—have tenants regained the upper hand?